Chương 4 Thông tư 44/2011/TT-NHNN: Trách nhiệm của các đơn vị liên quan

Chapter IV

RESPONSIBILITIES OF RELATED UNITS

Section 1: RESPONSIBILITY OF CREDIT INSTITUTIONS, FOREIGN BANK’S BRANCHES

Article 30. Responsibility of the Board of Directors, Board of Members

1. For the internal control system

a. On an annual basis, to review, assess, the internal control system; in which attention should be paid to the system of risk identification, measurement, assessment, and mananement, capital assessment method, financial report information and management information system;

b. To promulgate and periodicaly review, assess the business strategy as well as the main targets, policies of credit institution, foreign bank's branch;

c. To guarantee the reasonable and effective establishment and maintenance of the internal control system by the General Director (Director); in which there must be a system of risk identification, measurement, assessment and management; a capital assessment system; the faithful, reasonable, sufficient and timely financial report information system and management information system.

d. To monitor and timely speed up the implementation of guidelines, requirements of the State Bank on internal control at credit institution, foreign bank's branch, to supervise and speed up the implementation.

2. For internal audit

a. To promulgate internal regulations on the organization and operation of internal audit, which specifies the targets, tasks, position, power, responsibilities, reporting regime, relationship with other divisions of the credit institution; responsibilities, power of the Chief of Internal audit; basic principles, requirements of internal audit in accordance with provisions of this Circular;

b. To make decision on the organization of the internal audit; to appoint, dismiss the Chief of Internal Audit and other titles of the internal audit upon the request of Controllers’ Committee;

c. To sufficiently equip the resources (human resource, financial resource, and other facilities) and create favorable condition for internal audit unit to complete the tasks in line with provisions of this Circular;

d. To make decision on the implementation of recommendations of the internal audit; to speed up, follow up the operational units in performing recommendations of the internal audit, and to have timely solutions upon availability of reports as stated in Article 26, Article 27 and Article 28 of this Circular or availability of proposal, suggestion of the Chief of Controllers' Committee, Chief of Internal Audit;

dd) To make decision on the financial regime, the mechanism for wage, bonus, allowance for the Internal audit division and its staff within the competence scope.

Article 31. Responsibility of the General Director (Director)

1. For internal control system

a. To be responsible to the Board of Directors, Board of Members, parent bank of the foreign bank’s branch for the implementation of the business strategy and major targets, policies approved by the Board of Directors, Board of members, and parent bank of the foreign bank’s branch;

b. The General Director (Director) of the credit institution, foreign bank's branch is the first person responsible for carrying out the inspection, assessment on the internal control system and takes final responsibility for the sensibility, effectiveness and efficiency of the internal control system;

c. To establish, maintain, and develop the internal control system in a reasonable and effective way, meeting the requirements for identification, measurement, assessment, and management of risks, reasonable capital assessment method, ensuring the legal, effective, and safe operation of credit institutions, foreign bank's branches;

d. To draw up and promulgate specific operational procedures for every operations of the credit institution, foreign bank’s branch; to assure the availability of control policy, risk management policy in accompany with specific operational procedure;

dd) To maintain and implement the organizational structure, power delegation and authorization, business management in a clear and effective manner;

e) To maintain the financial information and management information system in a faithful, reasonable, sufficient and timely way;

g) To ensure the compliance with applicable laws and internal regulations, procedures;

h) On an annual basis, to report the Board of Directors, Board of Members, Controllers' Committee, parent bank of the foreign bank’s branch on the self-assessment of the internal control system and related recommendations, suggestions in order to modify, supplement and complete the internal control system.

2. For the internal audit

a. To create favorable condition for the internal audit to perform the assigned tasks and to direct the units, management and operational divisions to cooperate with tghe internal audit division as provided for in the internal regulation on internal audit or as directed by the Board of Directors, Board of Members;

b. To speed up the units, management, operational divisions in implementing the recommendations that were agreed with internal audit division, or as directed by the Board of Directors, Board of Members; to inform the internal audit division on the implementation of the recommendations as already agreed with the internal audit division;

c. To notify the internal audit about the internal meeting sessions;

d. To timely notify the internal audit division of any cases of material loss or fraud, cases that are in the risk of loss and fraud;

dd. To ensure that the internal audit division to be adequately informed of changes, arising issues in the operation of the credit institution, the new initiatives, products in order to early identify relevant risks.

Article 32. Responsibility of the Controllers' Committee

1. For the internal control system

a. To direct and operate the internal audit division to perform the checking, assessment independently, objectively on the internal control system, including the system of risk identification and mananement, capital assessment method, financial report information and management information system; internal procedures and regulations of the credit institution, foreign bank's branch;

b. To periodically inform the Board of Directors, Board of Members, General Director (Director) on the internal control system; to give proposal, suggesttion in order to modify, complete the internal control system.

2. For the internal audit division

a. To directly steer, manage and supervise the operation of the Internal audit division;

b. To perform the checking, assessment to ensure the effectiveness of internal auditing activity; take major responsibility for guaranteeing the quality of internal auditing activity;

c. To ensure that the internal audit has an appropriate position in the credit institution and that there is no unreasonable obstacles for internal audit activity;

d. To establish, amend, supplement and constantly complete internal regulations on the organization and operation of the internal audit and submit to the Board of Directors, Board of Members for decision;

dd) To approve the internal audit policies (except for the case as stipulated in point d of this Paragraph); to approve and adjust the annual plan for internal audit upon request by the Chief of Internal Audit, ensuring the internal audit plan is risk-oriented;

e) To ensure the effective collaboration with independent audit, State audit, State Bank (Banking Inspection and Supervision Department and State Bank’s branch);

g) To review, propose the Board of Directors, Board of Members to appoint, dismiss the Chief of Internal Audit and other titles of the internal audit; to organize the apparatus of the internal audit;

h) To personally report to every agency, every level in and outsite the credit institution in accordance with provisions of applicable laws and of the credit insitution; to submit the report to the State Bank as stipulated in this Circular.

Article 33. Responsibility of the Chief of Internal Audit

1. For the internal control system

Chief of Internal Audit shall be responsible for guaranteeing the sufficient performance of all functions, tasks, and powers related to the audit in respect of the internal control system as stipulated in this Circular and relevant internal regulations of the credit institution.

2. For the internal audit

a. To make the annual internal audit plan for submitting to Controllers' Committee for approval;

b. To organize the implementation of the internal audit plan that has been approved by the Controllers' Committee and the unexpected audit sessions as assigned by the Board of Directors, Board of Members, Controllers' Committee, General Director (Director);

c. To establish, amend, supplement, and constantly complete the method, policy, procedure for internal audit for submitting to the Controllers' Committee;

d. To ensure that internal auditors receive regular training, have adequate professional qualifications and skills to perform the internal audit task;

dd. To adjust the internal audit plan and submit to the Controllers' Committee for approval;

e. To request to appeal for staff from other divisions of the credit institution to take part in the internal audit if it may deem necessary, providing that the independence of the internal audit is ensured;

g. To attend meetings in accordance with the internal regulations of the credit institution and provisions of this Circular;

h. To report the Controllers' Committee, Board of Directors, Board of Members, General Director (Director) when finding out any weakness, shortcoming, mistake of the control system and of the Manager;

i. To follow up the implementation of post-audit recommendations; make and submit reports in line with provisions of this Circular.

k. To consider and recommend the Controllers’ Committee to request the Board of Directors, Board of Members to appoint, dismiss the Deputy Chief of Internal Audit and other titles of the internal audit; to organize the apparatus of the internal audit;

l. To take responsibility to the Board of Directors, Board of Members, Controllers’ Committee for the audit result performed by the internal audit division.

Article 34. Responsibility of an internal auditor

1. To verify that the information is sufficient, reliable, suitable and helpful for performing the auditing targets.

2. Based on the suitable analysis and assessment, to give conclusion and audit results independently and objectively.

3. To keep relevant information in order to support the conclusions and to give audit results.

4. Take responsibility to the law and to the Chief of Internal Audit for the audit results performed by him/her.

Article 35. Responsibility of units, management and operational divisions for the internal audit

1. To provide all information, documents, profiles that are necessary to the internal audit upon request by the Internal audit division in an honest and accurate manner without concealing any information.

2. To immediately inform the Internal audit division upon detection of any considerable weaknesses, shortcomings, violence, risks, losses of assets (or danger of assest loss), or upon availability of changes in the internal control system at the unit.

3. To implement the recommendations as already agreed with the Internal audit division and/or in accordance with the direction of the Board of Directors, Board of Members.

4. To create most favourable condition for the internal audit division to achieve the highest efficiency as possible.

Section 2: RESPONSIBILITY OF THE STATE BANK

Article 36. Responsibility of the Banking Inspection and Supervision Department

1. To perform the inspection, supervision on the compliance with regulations on internal control of credit institutions, foreign bank's branches, internal audit of credit institutions as stipulated in this Circular.

2. Annually, to assess the quality and efficiency of the internal audit activity of credit institutions, foreign bank’s branches, to strengthen providing consultancy and coordinating with internal audit divisions of the credit institutions for improving the efficiency of he internal audit activity and the inspection, supervision activity of the credit institutions, foreign bank’s branches.

3. To handle, within competence, or submit to the State Bank’s Governor for dealing with cases of violating provisions of this Circular and provisions of applicable laws.

4. To instruct the credit institutions, foreign bank's branches, State Bank’s branches in the implementation of this Circular.

Article 37. Responsibility of State Bank's branches

1. To inspect, supervise or coordinate with the Banking Inspection and Supervision Department in performing the inspection, supervision on the compliance with regulations on internal control system, internal audit by credit institutions, foreign bank's branches whose head offices are located in the local area in line with provisions of this Circular.

2. To handle, within competence, or submit to the State Bank’s Governor for dealing with cases of violating provisions of this Circular and provisions of applicable laws.

3. To inspect, supervise the compliance with regulations on internal control system, internal audit by people’s credit funds in line with provisions of this Circular; on an annual basis, to assess the quality and efficiency of the internal audit by the people’s credit funds.

4. To receive reports, plans on the deployment of internal audit from people’s credit funds.